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If Nominal GDP Increased by 11 Per Cent While Real

Question 8

Multiple Choice

If nominal GDP increased by 11 per cent while real GDP increased by only five per cent, then:


A) the price level must have increased by around six per cent
B) the price level must have increased by around 16 per cent
C) the price level remained steady but real output fell by around six per cent
D) the unemployment rate must have fallen during the year

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